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Winkworth reveals plans to open eight branches next year

But company's franchisee's have been less frenetic this year - with only three new offices announced within its latest trading update to investors.

Nigel Lewis

Winkworth has revealed that its franchisees have opened three new offices over the past ten months with a further eight offices due to open next year.

The announcement has been made within its latest Q3 trading update for this year, which reports strong trading although the sales market is not as strong during the months after last year’s lockdown albeit better then the same period two years ago prior to the pandemic.

The new openings are in the Norfolk village of Hellesdon, which is the third office for its rapidly-expanding local franchisee who is one of the company’s star operators – Jamie Moore.

The other two openings are in the Devon town of Tiverton and Ferndown in Dorset – although the update doesn’t mention the closing of its branch in the Devon fishing port of Fowey, which opened in 2018.

Like the vast majority of chain estate agencies this year, business has been ‘buoyant’ this year at Winkworth and the company expects full year revenues to exceed management forecasts and its full-year profits to be higher than expectations.

Brisk

Dominic Agace, CEO of Winkworth (main picture), says: “We expect business to remain brisk going into 2022, with rental prices rising due to migration back to London and international interest returning.

“We anticipate that sales will re-base to the levels seen before the stamp duty holiday but remain above the five-year average, as cheap funding and the momentum created by the stamp duty holiday are underpinned by high employment and affordable finance.

“For the year ahead, with a return to more normal conditions in sales and an improved rental market in London, we look forward to the continued underlying growth of the business.”

November 11, 2021

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